Turnaround in the vegetable oil market

Data from the Agricultural Economics Research Institute (AKI) and KSH’s market price information system (PÁIR) reveal that the experts of Oil World are of the following opinion: in the Black Sea region more oilseed will be processed in the 2015-2016 business year than in the previous year.

After 2009-2010 this will be the first year when use is likely to exceed the output. Hungary’s poultry export reduced 3 percent to 168,000 tons in the first 10 months of 2015. Our live cattle export surged 27 percent in the same period, with the main buyers being Turkey, Austria and Lebanon.

The European Union is expected to purchase 11 percent more milk, 164.1 million tons by 2025. China’s milk output may have grown by 4 percent in 2015 but for 2016 only a 1-percent expansion is expected in the country’s milk production. China’s dairy product import is likely to grow moderately in 2016.